Just How are Fico Scores Determined? Both TransUnion and Equifax use an amount of factors whenever determining your credit rating.

While both of them have actually somewhat different procedures, in general, the main factors are:

  • Payment History: Missing and payments that are late your charge card, home loan, etc. will reduce your score.
  • Debt Levels: the quantity you owe (whether for student education loans, credit cards, etc) and also the period of time you’ve owed the funds shall impact your rating. Utilizing a lot more than 40percent of one’s available credit may also have a negative impact.